SEOUL, Jan. 5 (Korea Bizwire) — Hyundai Motor Group reported its highest-ever annual sales in the United States last year, cementing its position as the fourth-largest automaker in the market for the second consecutive year. The group, which includes Hyundai, Kia, and the luxury Genesis brand, sold 1,708,293 vehicles in the U.S. in 2024, a [...]
SEOUL, Jan. 4 (Korea Bizwire) — South Korea’s five major automakers saw domestic sales in 2024 fall to their lowest level in 16 years, amid high interest rates and weakening demand for vehicles, including electric cars. Despite the slump, Kia achieved a milestone as its Sorento SUV became the nation’s best-selling car—the first time a recreational [...]
SEOUL, Jan. 1 (Korea Bizwire) —GM Korea, buoyed by the strong performance of the Chevrolet Trax Crossover, posted its highest sales in seven years in 2024, the company announced on Friday. The automaker sold 499,559 vehicles globally last year, a 6.7% increase from 2023, marking its highest annual sales since 2017. The growth was largely [...]
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s Ministry of Environment announced on January 1 its 2025 hydrogen vehicle subsidy plan, allocating funds to support the purchase of 11,000 hydrogen passenger cars, 2,000 hydrogen buses, and 10 units each of hydrogen-powered trucks and street-cleaning vehicles. The finalized subsidy guidelines, to be published on January 2 [...]
BUSAN, Dec. 31 (Korea Bizwire) — Renault Korea announced plans to outfit its Busan plant with electric vehicle (EV) production facilities as it gears up to manufacture the Polestar 4 midsize electric SUV for export to North America starting in the latter half of 2025. This marks the plant’s first transition to EV production, with industry [...]
SEOUL, Dec. 31 (Korea Bizwire) — Hyundai Motor Company and Kia Corporation announced on December 30 the launch of their Integrated Global Information System (IGIS), marking a significant advancement in their carbon emissions management capabilities. The newly developed IGIS represents a comprehensive approach to tracking carbon emissions throughout a vehicle’s entire life cycle, from raw material [...]
SEOUL, Dec. 27 (Korea Bizwire) — The futuristic Tesla Cybertruck has officially made its debut in South Korea, with renowned singer Kim Junsu receiving the country’s first fully registered vehicle, sparking widespread attention online. On December 26, multiple online forums and blogs celebrated the arrival of the Cybertruck, described as “South Korea’s first officially delivered Cybertruck.” [...]
SEOUL, Dec. 25 (Korea Bizwire) – Hyundai Motor Co’s mid-size SUV Santa Fe and Kia Corp’s EV3 entry-level electric vehicle (EV) were included among the safest cars in this year’s government automobile safety evaluation, the transport ministry said Wednesday. The Hyundai and Kia models, along with Mercedes-Benz’s E200 and Volvo’s S60 sedans, received the highest [...]
SEOUL, Dec. 23 (Korea Bizwire) — In 2024, South Korea’s import car market has shifted from its traditional “Big Four” structure to a “Big Three,” driven by Tesla’s remarkable sales growth. BMW and Mercedes-Benz continued their rivalry for the top spot, while Tesla secured third place for the first time with sales nearly doubling from 2023. [...]
SEOUL, Dec. 23 (Korea Bizwire) – A record number of vehicles have been recalled in South Korea this year due to manufacturing defects, according to data released by the Korea Transportation Safety Authority’s Auto Recall Center on December 22. The center reported that 5,142,988 vehicles across 1,684 models underwent recalls in 2024, tripling last year’s figure [...]